Nationwide Building Society (GB:NBS) has released an update.
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Nationwide Building Society has reported record growth in its mortgage and deposit sectors for the first half of 2024, marking a significant increase in member value through its mutual model. The acquisition of Virgin Money has further strengthened Nationwide’s financial position, allowing future profits to benefit customers rather than external shareholders. Despite a decrease in underlying and statutory profits, Nationwide maintains a robust balance sheet and aims to become the UK’s first full-service mutual banking provider.
For further insights into GB:NBS stock, check out TipRanks’ Stock Analysis page.